Western Africa: Paddy Rice Market 2024

Paddy Rice Market Size in Western Africa

The West African paddy rice market reduced slightly to $X in 2022, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Paddy Rice Production in Western Africa

In value terms, paddy rice production fell to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Nigeria (X tons) constituted the country with the largest volume of paddy rice production, comprising approx. X% of total volume. Moreover, paddy rice production in Nigeria exceeded the figures recorded by the second-largest producer, Mali (X tons), threefold. Guinea (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Guinea (X% per year).

In 2022, the average paddy rice yield in Western Africa contracted to X tons per ha, therefore, remained relatively stable against 2021 figures. In general, the yield, however, showed modest growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of paddy rice in Western Africa contracted to X ha, waning by X% on the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to paddy rice production attained the peak figure at X ha in 2021, and then shrank in the following year.

Paddy Rice Exports

Exports in Western Africa

In 2022, overseas shipments of paddy rice decreased by X% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, paddy rice exports declined notably to $X in 2022. Overall, exports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons), distantly followed by Senegal (X tons) and Benin (X tons) represented the largest exporters of paddy rice, together comprising X% of total exports. Nigeria (X tons), Guinea (X tons), Cote d'Ivoire (X tons) and Niger (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest paddy rice supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Guinea (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the export price figures.

Paddy Rice Imports

Imports in Western Africa

In 2022, approx. X tons of paddy rice were imported in Western Africa; picking up by X% against 2021 figures. Over the period under review, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, paddy rice imports surged to $X in 2022. In general, imports, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Benin represented the main importer of paddy rice in Western Africa, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Togo (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%) and Cote d'Ivoire (X%). The following importers - Guinea-Bissau (X tons), Mali (X tons) and Sierra Leone (X tons) - each recorded a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to paddy rice imports into Benin stood at X%. At the same time, Togo (X%), Guinea-Bissau (X%), Cote d'Ivoire (X%), Sierra Leone (X%), Nigeria (X%) and Mali (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Benin, Togo, Nigeria, Cote d'Ivoire, Guinea-Bissau, Sierra Leone and Mali increased by X, X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Benin ($X) and Sierra Leone ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Guinea-Bissau, Togo and Mali lagged somewhat behind, together comprising a further X%.

Guinea-Bissau, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price, however, posted noticeable growth. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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